§ 54-113. Articles of agreement. - North Carolina Statutes

§54‑113.  Articles of agreement.

The persons desiring toorganize such association shall sign and acknowledge written articles whichshall contain the name of the association and the names and residences of thepersons forming the same. Such articles shall also contain a statement of thepurposes of the association and shall designate the city, town, or villagewhere its principal place of business shall be located. The articles shall alsostate the amount of authorized capital stock, the number of shares authorized,and the par value of each. No shareholder in any corporation organized underthis Subchapter shall be personally liable for any debt of the corporation. (1915,c. 144, s. 2; C.S., s. 5244; 1985, c. 542, s. 2.)